Inox Wind Limited Max Pain Analysis
What is Max Pain?
Max Pain theory states the underlying gravitates toward the strike where option writers face minimum collective loss at expiry. For INOXWIND, that strike is ₹60. Spot at ₹59 is 1.7% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for INOXWIND sits at ₹60, the price at which option writers would incur the smallest aggregate loss if all open contracts expired worthless. This level often acts as a magnet as expiry approaches, pulling the underlying toward it.
Spot vs Max Pain Gap
The spot price of ₹59 sits about 1.67 % below the max‑pain strike, indicating a modest bearish gap. Should the underlying price pull back toward ₹60, the gap would narrow, reducing the distance between market pricing and the writer‑favored level.
Shift Signal
The max‑pain figure has moved down‑ward by 7.5 points from the prior day, suggesting that writers have adjusted their positioning toward a lower strike. This downward shift typically reflects increased hedging activity on the short side, as writers aim to tighten exposure around a more favorable strike.
Expiry Context
Because expiration is 26 days away, the max‑pain strike is still a guiding reference rather than a deterministic outcome; market forces, news flow, and liquidity can sway the final settlement price. Historically, the week leading up to expiry often sees heightened gamma‑related trading, with the price gravitating toward the pain point as open interest unwinds.
Data Note
The underlying sits just ₹1 below the max‑pain strike with 26 days remaining until the November 23 expiry.
Data as of 2026-10-28